Siren L.L.C. Makes New Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• Siren L.L.C. acquired a new stake in LPL Financial Holdings Inc., purchasing 7,500 shares valued at approximately $2.45 million.
• Other institutional investors like DAVENPORT & Co LLC and Merit Financial Group LLC have also increased their holdings, further demonstrating strong institutional interest with 95.66% of the stock owned by institutional investors.
• LPL Financial reported earnings of $4.51 per share for the last quarter, exceeding expectations and reflecting a 30.8% increase in revenue year-over-year.

Siren L.L.C. bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,500 shares of the financial services provider's stock, valued at approximately $2,454,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LPLA. Summit Securities Group LLC bought a new stake in LPL Financial during the first quarter valued at about $26,000. Millstone Evans Group LLC lifted its position in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of LPL Financial during the 1st quarter worth approximately $34,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

NASDAQ LPLA traded down $1.33 on Tuesday, reaching $363.15. 484,407 shares of the company's stock traded hands, compared to its average volume of 804,442. LPL Financial Holdings Inc. has a fifty-two week low of $204.41 and a fifty-two week high of $403.58. The firm has a market cap of $29.05 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 0.85 and a beta of 0.66. The stock has a 50 day moving average price of $371.77 and a 200-day moving average price of $355.41. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter last year, the company earned $3.88 EPS. The business's revenue was up 30.8% on a year-over-year basis. Equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio is 8.21%.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the sale, the director directly owned 19,120 shares in the company, valued at $7,151,836. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on LPLA shares. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Finally, Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $383.33.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.